Debt Protection

Safeguard your loan in times of uncertainty.

Life is unpredictable. You may worry about unexpected, real-life events that could leave you scrambling to pay your monthly bills. Noble Credit Union's Debt Protection program can help relieve financial pressure in the event of death, disability or involuntary unemployment.

With Noble CU's Debt Protection, your loan balance or monthly loan payments will be cancelled without penalty or added interest. You benefit from the peace of mind knowing you and your credit rating are protected.

Availability

Noble Credit Union's Debt Protection is available for closed-end loans; open-end consumer credit plans and unsecured lines of credit; credit cards; home equity line of credit plans.

Debt Protection

Definitions of Coverage
  • Death - Give your family time to get back on their feet financially. Total, Basic and Life Protection Plans - Cancel the loan balance as of the date of death (up to $75,000).
  • Disability - Help avoid bills piling up as you try to regain your health and earning capacity. Use this benefit as a supplement to any disability coverage you may have at work (which usually only covers 60% of pay). Total and Basic Protection Plans - Cancel up to six payments per occurrence with a monthly maximum cancellation of $1,000 and a maximum aggregate benefit of $15,000 per borrower.
  • Involuntary Unemployment - Ensure that one of your major monthly expenses will be taken care of as you search for new employment. Total and Loss of Job Protection Plans - Cancel up to four payments per occurrence with a monthly maximum cancellation of $1,000 and a maximum aggregate benefit of $15,000 per borrower.

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This product is optional
Your purchase of Noble Credit Union's Debt Protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.

Additional disclosures
We will give you additional information before you are required to pay for the Noble Credit Union Debt Protection. This information will include a copy of the contract containing the terms and conditions of Noble Credit Union's Debt Protection.

Eligibility requirements, conditions, and exclusions
There are eligibility requirements, conditions and exclusions that could prevent you from receiving Noble Credit Union's Debt Protection benefits. You should carefully read your Noble CU Debt Protection contract for a full explanation of the terms and conditions of the Noble CU Debt Protection program.